The Mobile Wallet ecosystem allows money transfers, payments at cash registers in supermarkets and is a payment vehicle in other transactions where consumers would traditionally consider using cash. Consumers can go online and review their e-wallet transactions, review spending reports and check account balances.Whats in for the merchant?
Lower Cost. By bypassing credit card processing, interchange fees are eliminated.
Increase Sales. Imagine being the “bank” to all of your customers. When they have money and want to convert it to E-wallet funds, they come to you first. They are in your store with money in their hands. What could be better? Talk about Opportunity Sales!
Customer Loyalty via Rewards. Wi Commerce incentivize consumers to deposit with us by giving away free Wi Coins worth 500 Thai baht upon registration.
Big Data. The merchant will quickly learn everything they want to know about their customer. His or her spending habits, shopping frequency, average transaction, income, last visit, etc.
Whats in for the customer?
Lower Fees. Customers can eliminate banking fees all together.
Convenience. Wi Commerce funds are easy to move around. Quickly pull up a list of suppliers, utility providers, or merchants and send them a payment.
Security. Our system requires two factor authentication (password and PIN), so the app on the phone has a password. Wait, where is all that money? In the bank of course. The payment ecosystem manages all funds in a treasury account at a bank. So funds are still safe and secure.